UK Parliamentary Committee Urges Action on NFT Copyright Infringement


This article has been republished with permission from Binance News.

According to Cointelegraph, a bipartisan parliamentary committee in the United Kingdom has called for action to protect creators from potential copyright violations related to nonfungible tokens (NFTs). The committee also requested the government to address possible harms caused by sporting groups issuing digital assets. The members of the committee believe that the most pressing issue is the risk to the intellectual property rights of artists due to the ease and speed at which NFTs can be minted.

In other NFT news, Yemel Jardis, the executive director of the Decentraland Foundation, shared his thoughts on the NFT market slump with Cointelegraph. He believes that as more community education on NFTs takes place, the focus will shift from speculative trading to genuine utility. According to Jardis, a steep decline in NFT prices should not be seen as a sign of distress, but rather as an indication that the market is maturing.

Additionally, the Ethereum wallet MetaMask, popular among NFT collectors, was briefly removed from Apple’s App Store on October 14. This raised concerns over a possible permanent removal from the marketplace. At the time, Apple users were also unable to download the application from the MetaMask website. Some speculated that Apple’s terms of service were behind the app’s disappearance, as the App Store’s rules prohibit apps running unrelated background processes, such as cryptocurrency mining.

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